Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) reported first-quarter fiscal 2027 revenue of $138.7 million, a 70% increase from the same period last year, even as silver production declined 17% to 1.5 million ounces. The company attributed the lower silver output to a voluntary suspension of operations in mid-June to complete underground safety upgrades required under new Chinese regulations. Silver equivalent production fell 15% to 1.7 million ounces, while gold production rose 24% to 2,536 ounces during the quarter. The company expects to release its unaudited first-quarter financial results after market close on Aug. 10, 2026.
Despite the production setback, Silvercorp emphasized continued progress across its development pipeline, including exploration and construction activities at the Ying Mining District, GC Mine, Kuanping mine, El Domo project in Ecuador, and the Chaarat ZAAV project in Kyrgyzstan. Construction of the Ying No. 3 mill is underway, and the El Domo project remains on track for commissioning in July 2027. Additionally, work continues on a bankable feasibility study for the Chaarat ZAAV project, expected to be completed in late July 2026.
The revenue growth signals strong operational performance and market demand for the company's metals, even as it navigates regulatory changes in China. The safety upgrades, while temporarily impacting production, are expected to enhance long-term operational stability and compliance. The advancement of the El Domo and Chaarat ZAAV projects highlights Silvercorp's strategy to diversify its asset base beyond China, reducing geographic risk and unlocking new growth opportunities.
Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc, with a focus on generating free cash flow from long-life mines, organic growth through drilling, and value-creating mergers and acquisitions. The company remains committed to responsible mining and environmental, social, and governance (ESG) principles.
For more details, the full press release is available at https://ibn.fm/y3rTY. The latest news and updates relating to SVM are available in the company's newsroom at https://ibn.fm/SVM.
